Member Info for mrc_mrc_mrc_mrd

Ammu - interesting thank you, I wasn't aware of that.

In any case they should not be hedging at this time because the price is too low. I've said before they need to ride the POO and just hope it averages out in their favour. POO obviously going our way now, but also time is marching on. Could have done with $50 average for the last 6 months really to get close to paying RCF. Need $60 and soon!

Pellet,

We are also dealing with the largest demand collapse in history. Storage also at an all time high!

I can't see most of the long termers here getting their money back, but at these prices and $50 + oil there is money to be made. Could see a buyout at 15p, or keep scraping through and get out on an inevitable speculators spike IMHO.

There is a risk this goes to the wall and the bondholders get the lot, but there is a bit of time to avoid that if the RCF can be repaid. Could do with a spike to 60s POO here soon and lock in RCF money with some hedges.

Lol, not sure we can compare the global economy to the might boscastle chilts but a nice sentiment.

Cornish are fierce

Romaron - good God you are showing your ignorance today lol.

Lol, a little bit more than that!

I think it's great...we get a few knowledgeable posts every now and then and avoid all the BS. PMG has pretty solid assets that are a manageable size.

TC is a known quantity love him or hate him. He is doing this because he loves it and wants to build something. Not for an inflated pay packet like most AIM BODs.

A million dollars a day is great, but we are talking 1.3+ BILLION to be paid down.

Still plenty risks ahead.

Once there is a bit more blood in the water the sharks will circle and things will get bad quick.

Agreed, it's attractive at this price. I sold some of my trading shares at recent high and starting to layer them back in now.

Main holding average is 37p so just keep a small pot that I trade for interest.

Laid-back - I think you will find that they do have to pay back debt. Divi will not happen while debt is this high (and still rising). It will be a condition that there is no Divi of any new finance they can raise IMHO, as it is with existing facilities.

Laid-back - we may well have FCF at $27 but that is not sustainable. Even assuming it is and all cash goes to debt it would take 4 years to pay off the debt.

The market cap at the moment is based on speculation about the future price of oil IMHO.

I doubt cairn would pay a premium to this SP. At $50 oil it will take ENQ 10 years to clear the debt IMHO. Based on having to make some investments, field declines, interest charges, worsening opex costs as fields age, decomm, etc.

Enq need to grow themselves out of trouble. If they don't they are very vulnerable to coming to an end via a low ball offer or insolvency. AIMVHO.

You are dreaming if you think this would be anything other than a fire sale. I think AB would run this company into the ground before admitting defeat.

I liked that han**** came out to say we had lost control a couple of days ago.

And now we have Priti all over the news saying the government is ahead of the curve.

Just lol. Except the whole world now wants nothing to do with us!

The uk has precious little to be proud of or gloat about in this pandemic response. Boris has been a disaster for england...get back to work...oh wait, maybe not, etc etc.

I think I am right in saying we still have the worst death per capita of our peers.

Brexit is nonsense, we are so connected that we will probably never have this sovereignty that all the mad brexit types have wet dreams about.

Interesting that they think the case rise may be due to this variant being more easily picked up by children.

Not sure what that means for the risk to the NHS / vulnerable / our lockdown needs

Romy - KO just having his bi monthly meltdown rifl

Holy - excellent summary of the position we find ourselves in.

A CEO should be full time full stop.

It all seems like a very nice little boys piggy bank.

BOD need to be buying substantial shares on the open market to restore some confidence.

If you smooth it out I would say it is black run teritory